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Rabobank partners with first time house buyers
Tags: Excerpts from the Windmill
UTRECHT – Rabobank, the Dutch equivalent of member-owned financial institutions in North America, is willing to take an ownership stake in the houses of young first-time buyers. The plan allows aspiring home owners a better chance to secure financing. When earnings increase, the home owner can buy out the bank’s stake. In recent years, it has become more difficult to buy a house in the Netherlands. Prices have risen significantly, while the banks have dropped the ceiling on the maximum financing available on properties. Rabobank’s innovation is the second in recent years. Earlier, it allowed eligible parents or family members of first time buyers to co-sign a mortgage. The newest plan helps buyers without an eligible cosigner in the family.